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EURSGD - Making a Complete 180Similar structure to the AUDSGD trade idea I just published, but I have a few more points to add here. I was originally short this pair. I attempted to make another attempt to enter short and ended up taking out a loss. Since price broke to the upside of this range, my directional bias has changed from bearish to bullish. Momentum picked up nearing last Friday's close and the moving average crossover is an indication of potential price acceleration for the week ahead.
Long
by FinancialGamblR
AUDSGD - Upside Momentum Picking UpThe Singapore dollar appears to be weaker against several pairs. I believe the "cleanest" setup is on the AUDSGD pair, but this signal also exist on the EURSGD pair as well. Price makes a new lower low. Price fails to push to new lows, confirming that the previous low point holds up. The third test and failure of forming a new lower low is a good indication that selling pressure has weakened. Momentum to the upside picked up last Friday going into the weekend. In addition, I'm beginning to see a moving average formation, which is a further indication that momentum to the upside is picking up.
Long
by FinancialGamblR
EURNZD - Downside Momentum PlayI see high probability to the downside for the week ahead. Here's a breakdown of the five key points I'm looking at. Price tops out in late-August of 2023. Price fails to push above previous highs, which serves as another indication that this range marks a relative high point for this pair. Price re-enters this range, but sits lower than the previous high at #2. Very repeatable pattern as price re-enter a lower range. Watching the break and waiting for momentum to pick up to the downside as price is beginning to accelerate last Friday.
Short
by FinancialGamblR
1
AUDUSD - Trend Formation?Early last week, traders started taking profit on US dollar long positions in anticipation of an end to rate hikes. The Federal Reserve shared a sentiment that there likely won't be any further rate hikes, but they will remain elevated depending on how inflation figures come out. From a technicals perspective, I am beginning to see some major shifts happening. Over on the AUDUSD pair, there are two key points I'd like to point out. Price breaches above a consolidation, which I mark in a style similar to the Darvas box system. Simultaneously, the moving average crossover is a further confirmation that price momentum is accelerating to the upside. This pair closed off strong last Friday so I do anticipate seeing a smaller pullback on Sunday's open before a further rally to the upside.
Long
by FinancialGamblR
GBP/CHF LongGBP/CHF Long • If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Long
by StewySongs
1
EUR/GBP ShortEUR/GBP Short • If price pushes up above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Short
by StewySongs
NZDUSD Swing as Dollar Becomes BearishThe era of high interest rates may not persist for much longer. Or, at least, that's what price is telling us. The US dollar sold off against pretty much all of its counterparts, maybe except for the Canadian dollar. It appears that investors believe that the Federal Reserve may not be sustaining a higher interest rate position and US dollar longs are closing out their positions. No matter to me as I look at the price action. This latest breakout signals a long entry opportunity on NZDUSD, one of the latest pairs I'm looking to enter. Fortunately, I have already entered short on USDSEK and USDJPY so this is an accumulation of my position.
Long
by FinancialGamblR
GBP/CHF Long and EUR/GBP ShortGBP/CHF Long • If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. EUR/GBP Short • If price pushes up above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
by StewySongs
1
GBP/CHF Long and AUD/NZD ShortGBP/CHF Long • If price impulses up, it does so in a convincing manner and a tight flag forms, then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. AUD/NZD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
by StewySongs
3
GBP/CHF LongGBP/CHF Long • If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Long
by StewySongs
1